Another takeover | Accounting ambiguity
Our assessment of small cap news here includes yet another takeover approach for a UK small cap. At first glance the take-out premium looks attractive, but is this really the case? Elsewhere, one of our AIM for High Yield portfolio companies reassures with its full year results, while we get some accounting ambiguity from a large textile rental business. Read on here for our thoughts on this and other news. (Premium)
Client portfolios managed by our associates, Fundamental Asset Management, may hold shares in companies covered below Spirent Communications: offer at a big premium? Spirent Communications (LON:SPT), a provider of automated test and assurance solutions for networks, cybersecurity and positioning, has received a takeover offer from US-listed Viavi Group. Spirent’s products, services and managed solutions address the test, assurance and automation challenges of technologies, including 5G, SD-WAN, cloud, and autonomous vehicles, all big growth areas. The takeover price of 175 pence per share is a 61% premium to the share price the day before, valuing Spirent at approximately £1 billion, equivalent to…